D'Ieteren Financial Report Reflects Reduction in External Sales and Jobs
February 28, 2012

by Katie O'Mara, komara@glass.com

Belron’s external sales are down 1.1 percent and total worldwide repair and replacement jobs are down 3 percent for 2011, when compared with 2010, according to the most recent financial report released by the company's Belgium-based parent company, D'Ieteren.

According to the report, the decline in external sales and repair and replacement jobs can be attributed to milder weather as compared to 2010 and economic conditions.

“External sales down 1.1 percent to 2.8 billion EUR (approximately 3.8 billion dollars) comprising a 0.9 percent organic decline, due to milder weather compared to an exceptional 2010 and a weaker economic environment, partially offset by segment share gains, a one percent adverse currency translation effect and a 0.8 percent increase due to acquisitions,” writes D’Ieteren.

D’Ieteren reported that a new distribution center was opened in Milan and new warehouse management software was introduced in Canada. A franchise agreement was signed in Croatia and another was terminated in Poland.

“Outside of Europe, sales increased by 2.2 percent, comprising organic sales growth of 4 percent despite overall market declines, an impact from acquisitions of 0.8 percent, due primarily to acquisitions in Canada, offset by an adverse currency impact of 2.6 percent due to a weaker US dollar,” reports the company.

The financials also mention the Allstate agreement in the U.S. reporting that, “In addition to focusing on delivering an outstanding service to its customers, Belron continued to work closely with its insurance and fleet partners by focusing on the total value delivered to those partners through the combination of service and cost. In the USA an agreement was signed with the Allstate Insurance Company, to provide the administration of its vehicle glass repair and replacement claims in the USA commencing 1 January 2012.”

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